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With all the talk about what may happen if former President Donald Trump were to seek a second term, attention is now focused on what might happen to digital assets.
According to a recent report, if Trump were to return to the White House, regulations may be changed to make room for digital assets. The research suggests a positive environment for innovation and uptake in the digital asset space by citing a potentially more supportive approach.
Geoff Kendrick, an analyst at Standard Chartered, underscores Bitcoin’s role as a hedge against de-dollarization and wavering confidence in U.S. Treasuries. He points to Bitcoin’s positive correlation with key macroeconomic indicators, indicating its potential to thrive amidst evolving economic dynamics.
Kendrick goes into further detail on the possible effects of US fiscal domination on the Treasury curve, highlighting the adaptability of Bitcoin to changing economic theories.
The research highlights the differences between the Trump and Biden administrations’ approaches to managing the national debt. Annual net sales of US government debt during the Trump administration averaged an astounding $207 billion, a substantial increase above the amount sold during the Biden administration.
Apart from the indirect advantages that de-dollarization is bringing to Bitcoin, Standard Chartered anticipates a proactive approach from a potential second Trump government. This may show up as loosened rules and maybe even the acceptance of U.S. spot ETFs, which would strengthen the ecosystem surrounding digital assets even more.